Teachers Advisors LLC increased its stake in Towne Bank (NASDAQ:TOWN) by 1.8% during the first quarter, Holdings Channel reports. The institutional investor owned 103,864 shares of the bank’s stock after buying an additional 1,859 shares during the period. Teachers Advisors LLC’s holdings in Towne Bank were worth $3,365,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TOWN. First Trust Advisors LP increased its position in Towne Bank by 23.2% in the first quarter. First Trust Advisors LP now owns 174,329 shares of the bank’s stock valued at $5,648,000 after buying an additional 32,785 shares in the last quarter. Bank of New York Mellon Corp increased its position in Towne Bank by 4.1% in the first quarter. Bank of New York Mellon Corp now owns 543,694 shares of the bank’s stock valued at $17,616,000 after buying an additional 21,353 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in Towne Bank by 54.4% in the first quarter. UBS Asset Management Americas Inc. now owns 27,667 shares of the bank’s stock valued at $896,000 after buying an additional 9,744 shares in the last quarter. Opus Capital Group LLC bought a new position in Towne Bank during the first quarter valued at approximately $443,000. Finally, TD Asset Management Inc. increased its position in Towne Bank by 6.3% in the first quarter. TD Asset Management Inc. now owns 30,400 shares of the bank’s stock valued at $985,000 after buying an additional 1,800 shares in the last quarter. 42.75% of the stock is currently owned by institutional investors.

Towne Bank (NASDAQ:TOWN) traded down 0.16% on Friday, reaching $30.75. 8,707 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $30.80 and a 200-day moving average of $31.47. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of 21.06 and a beta of 0.97. Towne Bank has a one year low of $22.51 and a one year high of $34.55.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 12th. Stockholders of record on Friday, June 30th were issued a $0.14 dividend. This is an increase from Towne Bank’s previous quarterly dividend of $0.13. This represents a $0.56 annualized dividend and a dividend yield of 1.82%. The ex-dividend date of this dividend was Wednesday, June 28th. Towne Bank’s dividend payout ratio is presently 38.10%.

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Several research analysts recently commented on TOWN shares. Zacks Investment Research downgraded shares of Towne Bank from a “buy” rating to a “hold” rating in a research note on Friday, May 5th. BidaskClub downgraded shares of Towne Bank from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd.

Towne Bank Company Profile

TowneBank is a community bank. The Bank offers personal banking services and business banking services. The Bank operates through three segments: Banking, Realty and Insurance. The Banking segment provides loan and deposit services to retail and commercial customers. The Realty segment provides residential real estate services, originations of a range of mortgage loans, resort property management, and residential and commercial title insurance.

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Institutional Ownership by Quarter for Towne Bank (NASDAQ:TOWN)

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